American Well Co. (NYSE:AMWL) Short Interest Up 42.5% in June

American Well Co. (NYSE:AMWL) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 18,270,000 shares, an increase of 42.5% from the May 31st total of 12,820,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is presently 7.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMWL. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a report on Thursday, May 2nd. UBS Group decreased their price objective on American Well from $1.50 to $0.60 and set a “neutral” rating for the company in a report on Thursday, May 23rd. Finally, Morgan Stanley decreased their price objective on American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a report on Monday, April 15th.

American Well Price Performance

Shares of NYSE AMWL traded down $0.03 during mid-day trading on Monday, hitting $0.29. The stock had a trading volume of 3,494,758 shares, compared to its average volume of 2,221,901. The company has a 50 day moving average of $0.46 and a two-hundred day moving average of $0.85. American Well has a twelve month low of $0.29 and a twelve month high of $2.47.

Shares of American Well are set to reverse split on Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 11th.

American Well (NYSE:AMWL) last released its earnings results on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $59.52 million during the quarter, compared to analyst estimates of $61.10 million. American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. During the same period in the previous year, the company earned ($0.24) earnings per share. As a group, equities research analysts forecast that American Well will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of American Well during the 1st quarter valued at approximately $1,284,000. Acadian Asset Management LLC increased its holdings in American Well by 193.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,372,582 shares during the last quarter. Senvest Management LLC increased its holdings in American Well by 2.2% in the 4th quarter. Senvest Management LLC now owns 23,529,964 shares of the company’s stock valued at $35,060,000 after purchasing an additional 507,340 shares during the last quarter. GSA Capital Partners LLP increased its holdings in American Well by 75.5% in the 3rd quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock valued at $839,000 after purchasing an additional 308,418 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in American Well by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after purchasing an additional 190,922 shares during the last quarter. 56.05% of the stock is owned by hedge funds and other institutional investors.

About American Well

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.